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Peter Strzalkowski, CFA

Investment Grade Debt Team Co-Lead, Portfolio Manager

Tenure

25
YRS

Industry

10
YRS

Oppenheimer

B.S. from Virginia Commonwealth University

Peter Strzalkowski, CFA, serves as co-team leader of the Investment Grade Debt team and is a portfolio manager of the Core Plus Bond strategy, Oppenheimer Limited-Term Government Fund and Oppenheimer Limited-Term Bond Fund. Before joining the Firm in August 2007, Mr. Strzalkowski served as managing partner and chief investment officer of Vector Capital Management, LLC, a structured products money management firm he founded.

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. All fund returns include change in share price, reinvested distributions and the sales charges as listed below, unless "without sales charge" is indicated. Returns do not consider capital gains or income taxes on an individual's investment. Class A Share returns include a maximum sales charge of 5.75% (equity), 4.75% (most fixed income), 3.5% (Senior Floating Rate Fund, Senior Floating Rate Plus), 2.25% ("limited term" fixed income funds) and 0% (Money Market Funds). Class B Share returns include contingent deferred sales charge as follows: For years 1 - 6 respectively, charges are 5%, 4%, 3%, 3%, 2%, 1% except for "limited term" fixed income funds (4%, 3%, 2%, 2%, 1%, 0%) and Senior Floating Rate (3%, 2% 1.5%, 1.5%, 1%, 0%). Class C Share returns include a 1% contingent deferred sales charge and are subject to an annual asset-based sales charge of 0.75%. Class R are subject to an annual asset-based sales charge of 0.25%. Annual asset-based sales charges are applied as follows: 0.75% on Class B/C; and 0.25% for Class R shares. Prior to 7/1/14, Class R shares were named Class N shares and were subject to a 1% CDSC (18 months). Class Y shares are not subject to a sales charge.

On 2/22/2008 and 3/31/2008 for RWL, the last trade price was used to calculate market return because 4:00pm EST midpoint bid/ask prices are not available on those dates. On 9/30/2008, the last trade price for RWL was used to calculate market return because an uncorrected, failed trade resulted in an incorrect 4:00pm EST midpoint bid/ask price on that date. On 2/22/2008 and 3/31/2008 for RWJ, the last trade price was used to calculate market return because 4:00pm EST midpoint bid/ask prices are not available on those dates.

The NAV return is based on the net asset value of the Fund and the market return (MKT) is based on the market price per share of the Fund. The price used to calculate MKT is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the Fund are listed for trading when the Fund's NAV is calculated at market close. MKT and NAV assume dividends and capital gain distributions have been reinvested in the Fund at market price and NAV, respectively. Returns less than one year are cumulative.

1. The Fund's investment objective changed from "seeks high current return and safety of principal" to "seeks income" on 12/28/12.

2. Prior to June 1, 2017, the Fund's name was Oppenheimer Core Bond Fund.

3. Effective 4/30/13, the Fund's investment objective changed from: "seeks a high level of current income" to "seeks total return."

4. Prior to 4/28/17, the Fund's name was Oppenheimer Core Bond Fund/VA.

A. Returns are preliminary and subject to change until the first business day of the month.↩

B. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7 p.m. ET daily.↩

C. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges. These returns would be lower if sales charges were taken into consideration. Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.↩

This material is provided for general and educational purposes only, is not intended to provide legal or tax advice, and is not for use to avoid penalties that may be imposed under U.S. federal tax laws. OppenheimerFunds is not undertaking to provide impartial investment advice or to provide advice in a fiduciary capacity. Contact your attorney or other advisor regarding your specific legal, investment or tax situation.

Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.

Investing involves risks including possible loss of principal.

Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's
investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses
contain this and other information about the funds, and may be obtained by asking your financial
advisor, visiting oppenheimerfunds.com, or calling 1.800.525.7040.
Read prospectuses and summary prospectuses
carefully before investing.